*By Justin Chermol*
The daunting task of paying back astronomical student loans may soon be less taxing, California Congressman Scott Peters tells told Cheddar Tuesday.
Rep. Peters (D-Calif.) has received 99 co-sponsors on his bipartisan Employer Participation in Repayment Act, which would allow employers to contribute to their employees' student loan payments, tax-free.
"The idea is this: if you go to work for a company, they can pay off up to $5,250 of your student loans in a year without it being income to you, so it's not taxable to you," Peters told Cheddar's J.D. Durkin.
"If you talk to any young person about ... the big thing on their mind: it's student loan debt. They're not buying a house, they're not getting a car, they're living with their parents, all because they have this burden."
According to a recent [report](https://www.federalreserve.gov/publications/files/consumer-community-context-201901.pdf) from the Federal Reserve, the rise in student loan debt from 2005 to 2014 has contributed to a decline in home ownership.
Nearly one in four American adults are paying off student loans. That amounts to over 44 million citizens who hold collectively almost $1.5 trillion in student debt.
"The average debt now, out of a public university: $30,000 for each kid," Peters said.
Peters also said that the bill could benefit the employer as well ー as educated talent will be attracted to jobs that offer this tax-free incentive.
Peter said he feels good about the bill's chances of at least making it to the House floor for a vote.
"I am more optimistic about that in this Congress with Mrs. Pelosi, rather than Mr. Ryan. I think that we are likely to deal with this issue in a serious way," Peters said. "That's the first step."
President Donald Trump is back at the White House after staging a dramatic return from the military hospital where he has been receiving an unprecedented level of care for COVID-19.
President Donald Trump says he will leave the military hospital and return to the White House Monday evening.
Former Obama officials say that the protocols in place are up to the task of preserving the continuity of the U.S. government in the event President Trump may be incapacitated.
White House press secretary Kayleigh McEnany says she has tested positive for COVID 19 days after President Trump's diagnosis.
Two days after being hospitalized with COVID-19, President Donald Trump declared, “I get it,” in a message to the nation Sunday before briefly leaving the hospital to salute supporters from his motorcade.
President Donald Trump faces “critical” coming days after a “very concerning” period in his fight against COVID-19 at a military hospital, his chief of staff said Saturday — in contrast to a rosier assessment moments earlier by Trump doctors, who took pains not to reveal the president had received supplemental oxygen at the White House before his hospital admission.
President Donald Trump went through a “very concerning” period Friday and faces a “critical” next two days in his fight against COVID-19 at a military hospital, his chief of staff said Saturday — in contrast to a rosier assessment moments earlier by Trump doctors, who took pains not to reveal the president had received supplemental oxygen at the White House before his hospital admission.
President Donald Trump appeared in public Friday evening for first time since testing positive for COVID-19 as he boarded Marine One for what was expected to be a stay of a “few days” at a military hospital.
Police said they knocked and announced themselves for a minute or more before bursting into Breonna Taylor’s apartment, but her boyfriend said he did not hear officers identify themselves, according to Kentucky grand jury recordings released Friday.
White House chief economist Joe LaVorgna joined Cheddar to discuss the economy's current standing.
